Morgan Advanced Materials PLC (LSE:MGAM)
£ 2.68 -0.005 (-0.19%) Market Cap: 758.60 Mil Enterprise Value: 1.07 Bil PE Ratio: 10.97 PB Ratio: 2.02 GF Score: 73/100
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Full Year 2023 Morgan Advanced Materials PLC Earnings Call Transcript

Mar 12, 2024 / 09:30AM GMT
Release Date Price: £2.64 (-2.04%)
Pete Raby
Morgan Advanced Materials PLC - Chief Executive Officer, Executive Director

Thank you very much. Well, good morning, everyone. This is Pete Raby, the Chief Executive of Morgan Advanced Materials. Welcome to our 2023 preliminary results call. I'm joined on the call by Richard Armitage, our CFO. I'll take you through a summary of our results. Richard will then walk you through the key aspects of our financial performance and I will update you on our business unit and environmental performance, our strategy and growth plans and the outlook for 2024.

We delivered revenues of GBP1.1 billion and organic revenue growth of 2.5%, with 10.4% growth from our faster-growing markets. Group adjusted operating profit was GBP120 million, with adjusted operating margins of 10.8% and a ROIC of 17.6%. Our financial performance reflects the impact of the cyber incident that we experienced at the beginning of last year. The impact was most severe in the first half when we were working to restore our networking systems and the recovery was substantially complete by the end of the year.

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